[Asia Economy Reporter Ryu Taemin] Changwon City in Gyeongnam Province has been re-designated as an unsold housing management area, where housing supply projects must undergo pre-sale guarantee screening, after three months.
On the 31st, the Housing and Urban Guarantee Corporation (HUG) announced the results of the 57th selection of unsold housing management areas, revealing this decision.
HUG explained, "Changwon was re-designated as a management area after three months since it was removed from the unsold housing management area at the end of February, due to a large number of unsold units occurring in recently launched apartment projects. The districts of Uichang-gu, a speculative overheating zone, and Seongsan-gu, a regulated area, are excluded from the management area."
As a result, the unsold housing management areas have been adjusted to seven locations: ▲Wonju-si in Gangwon Province ▲Jincheon-gun in Chungbuk Province ▲Gwangyang-si in Jeonnam Province ▲Andong and Gimcheon-si in Gyeongbuk Province ▲Changwon and Geoje-si in Gyeongnam Province. The designation will take effect from the 5th of next month.
To purchase project land (including all acquisition acts such as sales, auctions, public auctions, exchanges, etc.) for the purpose of supplying housing (including residential officetels scheduled for pre-sale guarantee issuance) in the unsold housing management areas, a preliminary screening for the pre-sale guarantee must be conducted. Even if the land has already been purchased, project operators seeking to obtain a pre-sale guarantee must undergo prior screening.
As of the end of last month, the total number of unsold houses in the unsold housing management areas was 4,914 units, accounting for 31.11% of the nationwide unsold houses (15,798 units).
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